Park Avenue Securities LLC Invests $1.10 Million in NewMarket Corporation $NEU

Park Avenue Securities LLC acquired a new stake in shares of NewMarket Corporation (NYSE:NEU) during the third quarter, according to its most recent filing with the SEC. The fund acquired 1,322 shares of the specialty chemicals company’s stock, valued at approximately $1,095,000.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in NewMarket by 2.1% in the 2nd quarter. Parallel Advisors LLC now owns 740 shares of the specialty chemicals company’s stock worth $511,000 after purchasing an additional 15 shares during the period. GAMMA Investing LLC boosted its position in shares of NewMarket by 7.3% in the third quarter. GAMMA Investing LLC now owns 220 shares of the specialty chemicals company’s stock valued at $182,000 after acquiring an additional 15 shares during the period. MAI Capital Management grew its stake in NewMarket by 20.8% during the second quarter. MAI Capital Management now owns 122 shares of the specialty chemicals company’s stock valued at $84,000 after acquiring an additional 21 shares in the last quarter. Global Retirement Partners LLC increased its holdings in NewMarket by 3.5% during the 3rd quarter. Global Retirement Partners LLC now owns 703 shares of the specialty chemicals company’s stock worth $582,000 after acquiring an additional 24 shares during the period. Finally, Ritholtz Wealth Management increased its holdings in NewMarket by 2.4% during the 2nd quarter. Ritholtz Wealth Management now owns 1,110 shares of the specialty chemicals company’s stock worth $767,000 after acquiring an additional 26 shares during the period. Hedge funds and other institutional investors own 61.09% of the company’s stock.

NewMarket Stock Down 1.5%

NEU stock opened at $710.05 on Wednesday. The company has a current ratio of 2.68, a quick ratio of 1.43 and a debt-to-equity ratio of 0.46. The company’s 50 day moving average is $740.37 and its 200 day moving average is $762.22. The stock has a market cap of $6.67 billion, a price-to-earnings ratio of 15.00 and a beta of 0.49. NewMarket Corporation has a 1-year low of $480.57 and a 1-year high of $875.97.

NewMarket (NYSE:NEU) last announced its earnings results on Thursday, October 30th. The specialty chemicals company reported $10.67 earnings per share (EPS) for the quarter. The business had revenue of $690.31 million during the quarter. NewMarket had a net margin of 16.33% and a return on equity of 28.53%.

NewMarket Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 2nd. Investors of record on Monday, December 15th were given a $3.00 dividend. This represents a $12.00 annualized dividend and a yield of 1.7%. This is a boost from NewMarket’s previous quarterly dividend of $2.75. The ex-dividend date was Monday, December 15th. NewMarket’s dividend payout ratio (DPR) is presently 25.35%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of NewMarket in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

NewMarket Profile

NewMarket Corporation is a specialty chemicals and lubricants company headquartered in Richmond, Virginia. Through its Valvoline business, the company markets a broad portfolio of automotive aftermarket products, including engine oils, transmission fluids, greases and vehicle care solutions. Valvoline products are distributed through retail and commercial channels as well as a network of quick-lube service centers that provide oil changes, preventive maintenance and related services.

In its chemical additives segment, NewMarket develops, manufactures and sells performance additives for fuels, lubricants and industrial fluids.